Construction begins at The Monaco, Main Beach apartment tower, as penthouse sells for $9.5 million

Andrew Erwin, of NPA Projects, who is marketing The Monaco, said buyers are responding to the enhanced level of amenity on offer.

Construction begins at The Monaco, Main Beach apartment tower, as penthouse sells for $9.5 million
The Monaco's resident pool. Image supplied

A locked-down Sydney buyer has snapped up the penthouse in the Gold Coast’s own apartment principality – The Monaco – for $9.5 million, as developer Ignite Projects pushes forward with construction next week ahead of an imminent sell out.

The Monaco, which has been two years in the making, is being developed by Ignite Projects and built by McNab Builders, opposite the Southport Yacht Club at the doorway to the much-loved Spit.

The Sydney-based buyer of the expansive two-level 630 sqm penthouse was impressed by the design and unrivalled location, and plans to use it for his ‘forever home’.

The penthouse sale caps off a buying rush with all but one of the 24 residences in the $110 million building sold with an average sale price of $4.6 million.

Ignite Projects managing director Josh Foote said buyers in the opulent development will have the veritable keys to the kingdom when construction is completed in 2023.

“The Monaco in many ways represents the renaissance of Main Beach, with the building replacing an aging unit block and a well-known house, referred to locally as the ‘container home’,” Mr Foote said.

“The building is setting a new standard for the suburb, which is getting a well-deserved facelift thanks to the $205 million revitalisation of the Spit to turn it into the Gold Coast’s version of Hyde Park and a 300-berth marina at The Southport Yacht Club.”

Mr Foote said buyers have been attracted to the attention to detail and customisation options available in the residences.

“Buyers can customise their apartment, including their entire kitchen and have access to first-class facilities including a 24-metre heated pool alongside a private dining area and virtual golf simulator,” he said.

“I liken each apartment to an art gallery because of the thought that has gone into every aspect from the Greek marble and Spanish handmade wall tiles in the ensuite through to the designer cocktail bar and fluted columns throughout. It is all about luxury and refined living.”

Andrew Erwin, of NPA Projects, who is marketing The Monaco, said buyers are responding to the enhanced level of amenity on offer.

“Each apartment in The Monaco has the feel of a penthouse with unrivalled luxury,” Mr Erwin said.

“The apartments in The Monaco have sold really well and to be almost sold out before construction even starts is an amazing achievement.”

“Buyers have come from interstate and locally within Main Beach, which is the home of luxury apartment living on the Gold Coast.

“The median apartment sale price in Main Beach in May was $795,000 – more than $300,000 above the Gold Coast median of $458,000.”

The Monaco contains a collection of 25 full-floor and half-floor residences at 2-4 MacArthur Parade, Main Beach.

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and new developments across the country

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Gold Coast Apartments Main Beach

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